iShares MSCI India ETF (INDA) — Stock Correlations & Overview
Over the past year, INDA has moved most closely with INDL, FLIN, EPI. Explore the stocks most correlated and inversely correlated with INDA below, along with its price, financials, and company profile.
Stocks correlated with INDA
Correlation of daily returns. Higher positive values move with INDA; negative values move opposite it. Informational only, not investment advice.
Most correlated with INDA
| Symbol | Company | Correlation |
|---|---|---|
| INDL | Direxion Daily MSCI India Bull 2X ETF | 1.00 |
| FLIN | Franklin FTSE India ETF | 0.99 |
| EPI | WisdomTree India Earnings Fund ETF | 0.98 |
| GIND | Goldman Sachs India Equity ETF | 0.97 |
| NFTY | First Trust India Nifty 50 Equal Weight ETF | 0.95 |
Most inversely correlated with INDA
| Symbol | Company | Correlation |
|---|---|---|
| EFU | ProShares Trust UltraShort MSCI EAFE | -0.62 |
| EPV | ProShares UltraShort FTSE Europe | -0.61 |
| EFZ | ProShares Trust Short MSCI EAFE | -0.59 |
| DBE | Invesco DB Energy FundCOMMODITY CONTRACTS BROKERS & DEALERS | -0.57 |
| EEV | ProShares Trust UltraShort MSCI Emerging Markets | -0.57 |
Frequently asked questions about INDA correlations
- Which stocks are most correlated with INDA?
- Based on one year of daily returns, the stocks most correlated with iShares MSCI India ETF (INDA) are INDL (1.00), FLIN (0.99) and EPI (0.98). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
- Which stocks are inversely correlated with INDA?
- Over the past year, the stocks most inversely correlated with iShares MSCI India ETF (INDA) are EFU (-0.62), EPV (-0.61) and EFZ (-0.59). A negative correlation means the two stocks have tended to move in opposite directions.
- What does a correlation of 0.8 mean for a stock?
- Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
- How are these INDA correlations calculated?
- We compute the correlation of daily returns between INDA and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.
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